Illinois Compiled Statutes 315 ILCS 20/16 – Application of the “Business Corporation Act of 1983”
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Terms Used In Illinois Compiled Statutes 315 ILCS 20/16
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Neighborhood Redevelopment Corporations organized under this Act shall be subject to the provisions of the “Business Corporation Act of 1983″ and all existing and future amendments and modifications thereof, so far as the same are not inconsistent with the provisions of this Act.